The number of property sales in Cyprus continued their upward trend in November with sales rising by 46 per cent compared to November 2015 according to official figures from the Department of Lands and Surveys.

September 2016 was marked by an increase in property deals all across the country. The biggest leap has been observed in Limassol, where the sales surged by 71%, followed by Larnaca (at 42%), Paphos (at 40%) and Nicosia (25%). Famagusta region has the lowest surplus estimated at 7%.

The good news however is that this year there are significant discounts as high as 75 per cent.
For those who will settle their IPT ahead of the early-bird deadline, which is October 31, they will get a 75 per cent discount on their due amount, thus paying only 25 per cent of the total.

Few people know, that after the bail-out crisis of 2013, when thousands of house mortgages and property taxes remained unpaid, Cyprus was saved from bankruptcy by an unexpected hero in the face of the Tel-Aviv based Ofek Air and their unique aerial photography project.

Cyprus property index published by British experts from RICS for the last quarter of 2015 has displayed that despite the trend of general property price reduction across the island, the actual coefficient of decrease has been gradually declining.

According to Cyprus Business Mail property transactions in Cyprus rose an annual 23 per cent in October, three months after the parliament passed a tax breaks package aiming at boosting activity in the real estate sector.